Tesco says new accounting standard will not have economic impact
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LONDON (Reuters) - Tesco, Britain's biggest retailer, said on Friday a new accounting standard related to the treatment of leases, will change the way assets and liabilities are presented but will not have an economic impact on the group.It also said the introduction of the new IFRS 16 standard would have no bearing on the plans or financial ambitions Tesco detailed in October 2016.The new standard seeks to align the presentation of leased assets more closely to owned assets.Tesco said it has no..